Directorate Change

Schroders PLC
17 December 2002


Appointment of Chairman & Additional Board Changes

17 December 2002



Schroders plc announces the following changes to the composition of its Board of
Directors.

Non-Executives

Chairman

Mr Michael Miles has been appointed Chairman of Schroders plc with effect from
1st January 2003. Michael Miles spent his career with the Swire Group in Hong
Kong, Japan and Australia and was Chairman of Swire Pacific and Cathay Pacific
Airways. He is currently Chairman of Johnson Matthey plc and a non-executive
director of BP plc.

He succeeds Mr Peter Sedgwick who retires as Chairman on 31st December 2002, as
announced at the time of the interim results. Peter Sedgwick joined the Company
in 1970 and has held many senior positions in the Group including Chief
Executive of Schroder Investment Management from 1984-1995. The Board expresses
its gratitude to him for his outstanding contribution to the Company over more
than thirty years.

Directors


Mr Kevin Parry will join the Board with effect from 1st January 2003. He is
Chief Executive Officer of Management Consulting Group plc.

Mr William Turner and Mr Alva Way, who have served as non-executive directors
for almost twenty years, will retire at the Annual General Meeting in April
2003. The Board expresses its thanks to them for their most valuable
contribution to the Company over many years.


Executive Directors


As previously announced, Mr Richard Horlick, who joined Schroders in November
2002 as Global Head of the Institutional Business, will join the Board with
effect from 1st January 2003.

Mr John Troiano steps down from the Board with effect from 31st December 2002,
but remains a member of the Group Management Committee.

Ends

For further information, please contact:

Schroders plc

Julian Samways                         020 7658 6166
Group Head of Corporate Communications

Notes to Editors

Schroders plc is a global asset management company with £89.5 (US$139.6) billion
under management as at 31st October 2002. The Group's clients include charities,
corporations, insurance companies, local and public authorities, pension funds,
high net worth individuals and retail investors.

Further information about Schroders is located on the following sites:

Corporate & Institutional: www.schroders.com

Retail & Investment Funds: www.schroders.co.uk

Mutual & Off-shore Funds: www.schroders.lu


Biographical Details - Michael Miles OBE (66)

Michael Miles joined the Swire Group in February 1958 and until 1976 held
various executive positions in Swire Shipping, having joined the Board of John
Swire & Sons (HK) Ltd in 1971. He has served in Swire Group offices in Australia
and Japan, being Managing Director of Swire (Japan) from 1973 to 1976. He joined
the Board of Cathay Pacific Airways Ltd in August 1976 on his appointment as
Deputy Managing Director of Cathay Pacific. He became Managing Director of
Cathay Pacific Airways in 1978 and Chairman of the Swire Group in Hong Kong and
Chairman of Cathay Pacific Airways in 1984. He was also a non-executive director
of HSBC Holdings from 1984-1988 and Chairman of the Hong Kong Tourist
Association from 1984-1988.

In 1988 he returned to London to take up an executive directorship at John Swire
& Sons Ltd, until he retired in 1999.

Michael Miles is Chairman of Johnson Matthey plc, The Korea-Europe Fund Ltd, and
a non-executive director of BP plc and Pacific Assets Trust plc. He is Adviser
to the Board of John Swire & Sons Ltd; he is also a Governor of Wellington
College. He was a non-executive director of ING Baring Holdings Ltd from
1989-2002.

Biographical Details - Richard Horlick (43)

Richard Horlick joined the corporate finance division of Samuel Montagu where he
spent three years before joining Stewart Newton, then at Reed Stenhouse. He left
Newton in 1994 to join Fidelity. Based in London, he was President of Fidelity's
global institutional business outside the United States. In 2001 he was
appointed President and Chief Executive of Fidelity Management and Trust Company
in Boston and head of Fidelity's US institutional business.

Biographical Details - Kevin Parry (40)

Kevin Parry qualified as a chartered accountant with KPMG in 1986. He became a
senior partner at KPMG in London before joining Management Consulting Group plc
as Chief Executive Officer in 2000. Management Consulting Group operates two
consultancies: Proudfoot Consulting, specialising in operational improvement and
Parson Consulting, specialising in financial management consultancy.


                      This information is provided by RNS
            The company news service from the London Stock Exchange